Will the SEC "release" the Ethereum ETF tomorrow? If rejected, how big is the risk of a pullback?
Because of a piece of gossip, Ethereum has achieved its largest increase in 18 months, and market sentiment has also driven Bitcoin to stand on the integer mark of 70,000 US dollars again. However, the SEC will make a final decision on VanEck's application before May 23, and the result of this application will directly affect the resolution of other applications.
Many people will worry whether it is the "dog dealer" who deceives us? After all, it has been bloodbathed many times before. If rejected, how big is the risk of a pullback?
It can be divided into two situations:
First, if it is passed, there will be two results:
1. Ethereum will continue to rise, and it is expected to have a 30-40% increase. Breaking through the previous high is not a problem. Compared with Bitcoin, which broke through the previous high of 69,000 in March, Ethereum's 4868 is still a long way off.
2. When all the good news comes out, it will turn into bad news, and a correction will start. Looking back at the week after the Bitcoin spot ETF was approved, it also experienced a correction. I think the probability of this is higher, at least more than 50%.
Second, if it is not approved and rejected, after all, the expectations are gone, there will definitely be a big correction, which is a good opportunity for friends who did not have time to get on board.
